Minister of Finance Moosa Zameer has highlighted the importance of innovative thinking and global collaboration to address the fragility of the global economy caused by wars and disasters.
Speaking at the second Global Economic Policy Forum in India, he noted that conflicts such as the Russia-Ukraine war and unrest in the Middle East have significantly disrupted global markets, driving up commodity prices and hindering countries' efforts toward debt repayment and sustainable development.
Minister Zameer highlighted the particular vulnerabilities of small island nations like the Maldives, which are heavily reliant on imports and tourism.
He pointed out the challenges Maldives faces, including efforts to mitigate the impacts of climate change.
He spoke on the ongoing initiatives of the government in renewable energy and climate change adaptation, stressing the need for international financial and technological support to achieve the country's sustainability goals.
The minister also identified opportunities to overcome these challenges through strategic investments in renewable energy, technological advancements, clean water access, and climate resilience.
“Innovative thinking and collective global action are essential to set a long-term vision and work towards it,” he said.
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